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Tuesday, 23 August 2016

EUR/USD wedged

The Euro is wedged in between a flat Resistance Line and a mildly rising Support Line. It is likely to dip back to the Support Line now, but what will happen next? It must break through either the Support or the Resistance in the not too distant future. Perhaps the imminent rise in FED interest rate (which punters apparently expect by December) will be enough to push the graph down through the Support.

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